Category: Business

KARACHI, Nov 01 (APP):State Bank of Pakistan (SBP) Governor Dr. Reza Baqir, launched the National Payment Systems Strategy (NPSS) in an event held here on Friday at its headquarters. President of the World Bank, David Robert Malpass was the chief guest at the event that was attended by key stakeholders including regulators, government entities, banks,… Continue reading SBP launches National Payment Systems Strategy

ISLAMABAD, Nov 1 (APP):Federal Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar Friday said despite budget constraints, the incumbent government is allocating additional resources for socioeconomic uplift of deprived areas through regional equalization programme. The federal minister was talking to a visiting IMF Mission Chief Ernesto Ramirez Rigo who along with a delegation called… Continue reading Govt allocating resources for socioeconomic uplift of deprived areas

ISLAMABAD, Nov 1 (APP):Minister for Planning, Development and Reforms Makhdoom Khusro Bakhtiar Friday said financing committee for Main Line – I (ML-I) project would be constituted during the 9th meeting of Joint Cooperation Committee (JCC) scheduled to be held on November 6,between Pakistan and China. Addressing a press conference here, he said the financing committee… Continue reading Financing committee for ML-I project to be constituted: Khusro

ISLAMABAD, Nov 1 (APP):The two leading Exploration and Production (E&P) companies have allocated an amount of Rs305.76 million to carry out welfare schemes and development projects in three oil and gas producing districts of Khyber Pakhtunkhwa (KP) during the current fiscal year. Under the Corporate Social Responsibility (CSR) initiatives, Oil and Gas Development Company Limited… Continue reading Rs 305.76m welfare projects being executed in KP’s O&G producing districts

ISLAMABAD, Nov 1 (APP):The First Meeting of Pak-China Joint Working Group (JWG) on Agriculture Friday agreed for focusing on vertical increase in productivity of existing crops, transfer of knowledge and technologies . Both the sides agreed on protection of germ plasm resources in order to increase the production of agricultural products for food security in… Continue reading Pak-China JWG on Agriculture for focusing on productivity of existing crops, transfer of knowledge, technology

ISLAMABAD, Nov 1 (APP):”Pakistan earned $61.850 million by providing different transport services in various countries during the first two months of current financial year (2019-20) as compared to the corresponding period of last year. This shows increase of 24.60 percent as compared to $49.003 million earned through provision of services during the corresponding period of… Continue reading Pakistan earns over $61.8 million from export of transport services

KARACHI, Oct 31 (APP):State Bank of Pakistan (SBP) has amended its Prudential Regulations of Agriculture Financing, SME Financing, and Corporate and Commercial Banking by allowing banks to accept electronic warehouse receipts as collateral for lending against storage of agriculture produce and commodities. This is a major move towards addressing the challenge of access to finance… Continue reading SBP allows electronic warehouse receipt as collateral for bank financing

ISLAMABAD, Oct 31 (APP):Federal Board of Revenue (FBR) has collected Rs320 billion revenues during the month of October and maintained overall increase over last year of 16% and domestic tax over 25%. This is after taking into account negative aspect of import contraction of around Rs50 billion, FBR Chairman Syed Shabbar Zaidi said in a… Continue reading FBR collects Rs320 bn in Oct, revenue collection up by 16%

ISLAMABAD, Oct 31 (APP):Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh Thursday chaired a meeting which was held to discuss the outstanding payments of Independent Power Producers (IPPs). The meeting which was also attended by the Governor State Bank of Pakistan, Secretary Finance, Special Secretary Finance and Additional Secretary Ministry of… Continue reading Hafeez Shaikh chairs meeting

ISLAMABAD, Oct 31 (APP):The first private shipment, carrying around 130,000 cubic meter Liquefied Natural Gas (LNG), is likely to arrive at Karachi port by end of this month, Chief Executive Officer of Universal Gas Distribution Company (UGDC) Ghiyas Abdullah Paracha said Thursday. “We have recently signed deals with world leading companies ExxonMobil and Trafigura for… Continue reading First private LNG shipment likely to arrive by month end

ISLAMABAD, Oct 31 (APP):A delegation of Pak-China Joint Working Group (JWG) on Agriculture Cooperation here on Thursday visited Pakistan Agricultural Research Council (PARC). The delegation met PARC Chairman Dr Muhammad Azeem Khan and discussed ways and means to enhance bilateral cooperation in agriculture sectors between both the countries, a press release said. On the occasion,… Continue reading Pak-China JWG on Agriculture Cooperation visits PARC

ISLAMABAD, Oct 30 (APP):The government and traders Wednesday reached an agreement, under which the Federal Board of Revenue (FBR) delayed the condition of CNIC for sales and purchase of goods till January 31st, 2020, hence putting an end to the shutter-down strike the traders had been observing for second consecutive day on Wednesday. According to… Continue reading Govt, traders reach agreement, shutter-down strike ends

MARDAN, Oct 30 (APP):The Most Venerable Monk Arayawangso, currently visiting Pakistan with a delegation, on Wednesday said both Pakistan and Thailand were in consultative process to introduce meditation services at Buddhists sites which would bring an influx of religious tourists and ultimately boost economy. “We may have three to five days meditation at the Buddhist… Continue reading Meditation services at Buddhist sites to bring influx of religious tourists: Chief Monk

ISLAMABAD, Oct 30 (APP):Japan would provide jobs to around 350,000 workers from 10 different countries, including Pakistan, Ambassador of Japan to Pakistan, Kuninori Matsuda said Wednesday. The labour force would accommodate in 14 major sectors including nursing care, building clinic, agriculture, fisheries, hotel management, food and beverages, aircraft maintenance and airports ground handling staff, shipbuilding,… Continue reading Japan to open job opportunities for 350,000 workers

ISLAMABAD, Oct 29 (APP):Federal Minister for Economic Affairs, Hamad Azhar on Tuesday said that the present government was working on mechanism to wipe out money laundering and suspicious transactions. The Inter-agency mechanism has already been established to check terror financing investigations, suspicious transactions and non-profit organizations, he stated while talking to a private news channel.… Continue reading Govt working on mechanism to wipe out money laundering, suspicious transactions: Hamad

ISLAMABAD, Oct 29 (APP):Advisor to Prime Minister on Finance and Revenue, Dr. Abdul Hafeez Shaikh Tuesday accepted the demand of textile exporters, allowing them payment of Sales Tax refund, for the month of August and July, through old Expeditious Refund System (ERS) system. Talking to the delegation of Textile Exporters here, the Advisor said that… Continue reading Hafeez Shaikh accepts textile exporters’ ST refund demand

ISLAMABAD, Oct 29 (APP):National Assembly Standing Committee on Commerce and Textiles on Tuesday stressed the need for evolving a comprehensive strategy to increase the country’s external trade. The Senate committee on commerce also sought a report from the Federal Board of Revenue for resolving the issues of textile industry to promote growth and productivity of… Continue reading NA body stresses for comprehensive strategy to increase external trade

ISLAMABAD, Oct 28 (APP):Adviser to Prime Minister on Commerce, Industries and Production, Textile and Investment Abdul Razak Dawood Monday said rice was the largest agro export commodity in the the country’s export basket with a total volume of over $ 2 billion, which will be increased to $5 billion in next five years. He said… Continue reading Rice export to be increased to $5 bln in five years: Razak

ISLAMABAD, Oct 28 (APP):Federal Board of Revenue (FBR) has issued directions to all officers and officials of FBR headquarters and its field formations not to contact with any taxpayer or businessman in any form including physical visit, telephonic, mobile calls, SMS or email, except when legally authorized to do so. The step has been taken… Continue reading FBR directs all staffers not to make any contact with taxpayers

ISLAMABAD, Oct 28 (APP):Adviser to Prime Minister on Commerce, Industries and Investment Abdul Razak Dawood Monday said that the government has been giving priority to connect the local economy with major potential economies of the world for achieving the agenda of trade liberalization to enhance country’s exports. “Our major economic agenda is to increase country’s… Continue reading Connecting local economy with potential global markets top priority: Razak Dawood